Kenneth Griffin, billionaire CEO of American hedge fund Citadel, thinks a currency on the Ethereum network will replace Bitcoin (BTC) as crypto’s top dog. Citadel manages over $40 billion of capital — a quarter of the trading volume in the United States stock market.
During this Wednesday’s Nov. 10 DealBook summit hosted by The New York Times, Griffin said that he anticipates that the “Bitcoin-based conception [will be] replaced by the Ethereum-based conception in the next generation of cryptocurrencies.” He added that Ethereum-based cryptocurrencies have “the benefits of higher transaction speeds [and] lower cost per transaction.” Ethereum is only slightly faster than Bitcoin at present but will significantly scale up transaction speeds and lower costs when Ethereum 2.0 is fully implemented. ( Cointelegraph )
